Artificial Intelligence in Healthcare Market
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The AI in healthcare market is expected to grow at a CAGR 43.5% rate during the forecast period. The huge availability of big data, growing number of cross-industry partnerships and collaborations is fueling the growth of the Artificial Intelligence market. In addition, demand to reduce the imbalance between healthcare workforce and patients is further supplementing the growth of the market.
Processor to hold largest market in hardware segment. Increasing need for hardware platforms with high computing power to run various AI software is the key factor accelerating the growth for hardware devices in the market. Demand for high-computing processors to run AI algorithms continues to surge its growth in the hardware segment. The processor segment consists of MPUs, GPUs, FPGAs, and ASICs. In processors, GPUs are expected to foresee strong growth owing to high parallel computing capabilities, and the same is expected to continue in the coming years.
Context-aware computing to witness higher growth during forecast period. The development of more sophisticated hard and soft sensors has accelerated the growth of context-aware processing. Increased processing power, innovative sensing capabilities, and improved connectivity have resulted in the growth of context-aware processing systems. A few core healthcare applications include lifestyle management and monitoring, in-patient care and hospital management, and virtual assistant.
North America to account for largest market share. Being a developed and technologically advanced region, it is likely to be one of the key contributors to the overall market growth during the forecast period. Moreover, high spending of GDP in healthcare, especially in the US and Canada, is likely to supplement the growth of next-gen technologies such as AI in the region. APAC is likely to closely pursuit the growth of North America and is expected to register the second-fastest growth rate.
Key market players include NVIDIA (US), Intel (US), IBM (US), Google (US), Microsoft (US), AWS (US), General Vision (US), GE Healthcare (US), Siemens Healthineers (Germany), Medtronic (US). The market has active participation of start-ups. A few emerging start-ups in the market are CloudMedx (US), Imagia Cybernetics (Canada), Precision Health AI (US), and Cloud Pharmaceuticals (US).
Key questions addressed in the report
- Which are the major applications of market? How big is the opportunity for their growth in the developing economies in the next 5 years?
- Which are the major companies in the market? What are their major strategies to strengthen their market presence?
- Which AI technology will find its major application in healthcare?
- Which are the leading countries in the AI in healthcare market? What would be the share of North America and Europe in this market in the next 5 years?
- What will be the role of the standards and regulations by governments and associations in the adoption of AI in healthcare?
1.1 Market Definition
1.2 Study Scope
1.3 Study Period
2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Research Design
2.4 Data Validation
2.5 Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Artificial Intelligence in Healthcare Market, By Application
5.1 Drug discovery
5.2 Healthcare assistance robots
5.3 Medical imaging and diagnostics
5.4 Virtual assistant
5.5 Emergency room and surgery
5.6 Patient data and risk analysis
5.7 Precision medicine
6. Artificial Intelligence in Healthcare Market, By Offering
7. Artificial Intelligence in Healthcare Market, By Technology
7.1 Natural language processing
7.2 Computer vision
7.3 Machine learning
8. Artificial Intelligence in Healthcare Market, By Region
8.1 North America
8.2.6 Rest of Europe
8.3 Asia Pacific
8.3.3 South Korea
8.3.6 Rest of APAC
8.4 Middle East
8.4.2 Saudi Arabia
8.4.3 Rest of Middle East
8.5 Rest of the World
8.5.1 Latin America
9. Company Profiles
9.1 Siemens Healthineers
9.2 Microsoft Corporation
9.3 Amazon Web Services
9.4 Google Inc.
9.5 General Electric Company
9.7 IBM Corporation
9.8 Intel Corporation
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